LXP Industrial Trust (NYSE:LXP) Short Interest Up 23.0% in November

LXP Industrial Trust (NYSE:LXP) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 5,140,000 shares, a growth of 23.0% from the October 31st total of 4,180,000 shares. Based on an average trading volume of 1,990,000 shares, the short-interest ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Separately, Evercore ISI boosted their price target on LXP Industrial Trust from $10.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, LXP Industrial Trust currently has an average rating of “Hold” and a consensus target price of $11.25.

Institutional Investors Weigh In On LXP Industrial Trust

A number of institutional investors have recently modified their holdings of the stock. William Blair Investment Management LLC acquired a new stake in LXP Industrial Trust during the second quarter worth about $36,683,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of LXP Industrial Trust by 624.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,396,610 shares of the real estate investment trust’s stock valued at $21,857,000 after purchasing an additional 2,065,667 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of LXP Industrial Trust by 340.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,213,117 shares of the real estate investment trust’s stock valued at $22,242,000 after purchasing an additional 1,710,867 shares during the period. Millennium Management LLC increased its stake in shares of LXP Industrial Trust by 173.9% in the second quarter. Millennium Management LLC now owns 1,861,986 shares of the real estate investment trust’s stock valued at $16,981,000 after purchasing an additional 1,182,258 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of LXP Industrial Trust by 106.5% in the second quarter. Marshall Wace LLP now owns 1,047,245 shares of the real estate investment trust’s stock valued at $9,551,000 after purchasing an additional 540,045 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

LXP Industrial Trust Stock Up 0.9 %

NYSE:LXP traded up $0.08 on Monday, reaching $9.43. The stock had a trading volume of 2,185,256 shares, compared to its average volume of 2,196,680. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $9.57 and a 200 day moving average of $9.56. The stock has a market cap of $2.78 billion, a P/E ratio of 157.19 and a beta of 0.88. LXP Industrial Trust has a 12-month low of $8.23 and a 12-month high of $10.56.

LXP Industrial Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from LXP Industrial Trust’s previous quarterly dividend of $0.13. LXP Industrial Trust’s dividend payout ratio is 866.81%.

LXP Industrial Trust Company Profile

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on single-tenant industrial real estate investments across the United States. LXP seeks to expand its industrial portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions.